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Aug 3 (Reuters) – The drop in tech stocks and concerns over the global spread of the Delta variant of the coronavirus kept European stocks under pressure on Tuesday, despite an encouraging earnings update for companies, including oil major BP and the automaker Stellantis.
At 0710 GMT, the regional STOXX 600 index fell 0.1% after hitting a record high in the previous session. Asian stocks were also mostly down as the Delta variant spread across key markets.
Chinese authorities have targeted video game producers again, dropping shares in Dutch company Prosus, which owns a stake in Chinese tech giant Tencent, by 5.0%.
Tech stocks were the biggest drag after German chipmaker Infineon Technologies fell 4.7%, saying it was battling extreme tension in its markets.
Oil major BP rose 3.5% as it raised its dividend and stepped up share buybacks after second-quarter profit hit $ 2.8 billion.
Automaker Stellantis climbed 3.9% after raising its annual target on its adjusted operating profit margin. (Reporting by Sruthi Shankar in Bangalore; editing by Sriraj Kalluvila)